A post by @FirstSquawk on X.

AstraZeneca has made a $10 billion offer for Rhythm Pharmaceuticals, according to a Wall Street Journal report cited by First Squawk. The proposed deal would mark a significant bolt-on acquisition for the Anglo-Swedish drugmaker, valuing the rare-disease-focused biotech at roughly $10 billion. Rhythm Pharmaceuticals specializes in therapies for rare genetic disorders of obesity, a niche that has drawn growing interest from larger pharmaceutical players. The reported offer, if confirmed, would rank among AstraZeneca's larger recent transactions as it seeks to bolster its pipeline beyond oncology and cardiovascular franchises. Investors will watch for formal confirmation from either company and any competing bids, with Rhythm's shares likely to trade near the offer price in the interim.